Ｐａｇｅ 714221 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 通常モードに戻る ┃ ＩＮＤＥＸ ┃ ≪前へ │ 次へ≫ ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ▼Asia Bio tammylleanne 13/5/20(月) 19:44 ─────────────────────────────────────── ■題名 ： Asia Bio ■名前 ： tammylleanne <tammylleanne@hotmail.com> ■日付 ： 13/5/20(月) 19:44 -------------------------------------------------------------------------
| http://news1.equities.com/2013/05/16/1417106.html Asia Bio-Chem Group Posts 1st Quarter 2013 Financial Results [Manufacturing Close - Up]ProQuest Information LearningAsia Bio-Chem Group Corp. announced its financial results for the three-month period ending March 31. In a release on May 14, [url=http://www.agoshow.net/Blank-Black-2011-All-Star-Jerseys-96/]Blank Black 2011 All Star Jerseys[/url] the Company noted that on January 1, it [url=http://www.agoshow.net/Tigers-24-Miguel-Cabrera-Home-Cool-Base-White-2010-All-Star-Jerseys-91/]Tigers 24 Miguel Cabrera Home Cool Base White 2010 All Star Jerseys[/url] closed the acquisition of 100 percent of interest in Tieling for an aggregate purchase price of RMB 280 million ($44.8 million), RMB 250 million ($40 million) in the form of overdue accounts receivable of Asia Bio-Chem, and RMB 30 million ($4.8 million) of note payable due 12 months after the completion of all title changes and filing approval with the local government [url=http://www.agoshow.net/Yankees-52-CC-Sabathia-White-2010-All-Star-Jerseys-62/]Yankees 52 CC Sabathia White 2010 All Star Jerseys[/url] in the PRC. The Company's main reasons for completing this acquisition was to acquire additional corn processing plant capacity, to ultimately control a larger share of the corn processing market in Northern China, to obtain the corn processing and sweetener processing licenses held by Tieling, to eliminate a competitor from the market, and to take advantage of an opportunity to acquire an [url=http://www.agoshow.net/Rays-3-Evan-Longoria-red-2010-All-Star-Jerseys-44/]Rays 3 Evan Longoria red 2010 All Star Jerseys[/url] additional plant at a cost significantly below construction cost. In addition, this transaction provided a solution to [url=http://www.agoshow.net/2009-All-Star-Philadelphia-Phillies-29-Ibanez-Red-Jerseys-14/]2009 All Star Philadelphia Phillies 29 Ibanez Red Jerseys[/url] the Company's overdue trade receivables. "Improvement in by-product prices together with the lowest corn prices since 2010 have contributed to an improvement in gross margin, however, the market continues to struggle from low demand", stated Zhiping Wang, President and CEO of Asia Bio-Chem. "Further, with the closing of our acquisition of Tieling, we have cleaned up our overdue accounts receivables and increased our overall production capacity by 66 percent to 1.5 million tonnes of corn per year." During the first quarter, the Company increased capacity utilization in response to higher margins and achieved 46 percent capacity at its Daqing and Changtu plants compared with 31 percent during the same period in 2012. This increase in capacity coupled with higher by-product prices resulted in first quarter sales of $33 million representing a 2 percent improvement over the same period of 2012. Lower corn costs and higher germ and gluten prices resulted in gross margin of 0.8 percent during the first quarter compared with negative gross margin of 3.9 percent during the same period in 2012. With the acquisition of Tieling, the Company incurred $1.3 million in additional depreciation charges associated with the plant and equipment purchased. Given that the Tieling plant is not currently in operation, this depreciation charge is categorized in general and administrative expenses. Further, the Tieling acquisition added $68.5 million in short term debt which resulted in $1.2 million in additional finance charges during the quarter. This higher depreciation and interest charge coupled with higher freight charges resulted in a net loss of $9.2 million during the first quarter compared with a loss of $5.5 million in the first quarter of 2012. During the first quarter the Company's unrestricted cash position declined to $3.9 million from $5.0 million at December 31, 2012. With the additional bank debt assumed in the Tieling acquisition, total debt increased to $193.6 million at March 31, 2012 from $123.2 million at December 31, 2012. Asia Bio-Chem Group, through its subsidiaries in the People's Republic of China, is in the business of processing corn into cornstarch, germ and gluten for sale into the domestic Chinese market. ((Comments on this story may be sent to newsdesk@closeupmedia.com)) [url=]more[/url] |